Credit Cards

American Express was my first credit card. The only good thing about it is that some of the credit cards offer you Delta Sky miles, but if you don't use it to pay all your bills and fill your car with gas, you will end up losing money. There is annual fee of about $90. Speaking of APR (Annual Percentage Rate), it’s about 15 percent. Also, this credit card is not popular. There are many stores that don't accept this type of credit cards. When I cancelled the credit card, I had to pay the rest with APR of 33 percent.

Chase was my second credit card. Even though I didn't have big credit history, Chase gave me credit limit of $3500, APR 9 percent, and no annual fee. It works with Visa. What I hate about the card is that sometimes they will sign you up for Payment Protection and other junk. Once I even got charged from some travel agencies, each was $150. When I called them, they answer in Spanish, which can make it confusing for customers to cancel that useless service. So if you have one, check the statements all the time. Also, if you went over credit limit or late with your payment, your APR may get to 30 percent.

Washington Mutual was my third credit card. It’s not easy to get one. It will be a lot easier if you have checking account at Washington Mutual. The APR is 8.99 percent, no annual fee, and I got credit limit of $3000. This is very good credit card. I never had any problems with it. Their web site lets you see what your credit score is and gives you hints on how to get better score. This card works with MasterCard.

Capital One credit card was my fourth credit card. The reason I got was to transfer money from my second credit card to this one. It gave me 0 APR on balance transfers for about 6 month. The APR is 11 percent, no annual fee, and I got credit limit of $4000. I had no problems with it so far. Has pretty good web site to pay bills etc.

P.S. It’s always good to have credit card with low APR, no annual fee, and big credit limit, but remember, that is not your money, you will have to pay it all back, probably even more. Use credit cards only for emergency situations.